Confusing? Heck yeah. So, here’s an example that I’ve heard may go down: Ottawa goalie Ray Emery is a RFA, but could be tendered an offer by the L.A. Kings for a lot more money. If he signs the offer sheet and Ottawa decides to let Emery walk, L.A. owes Ottawa a number of draft picks commensurate to how much offered Emery.
If L.A. offers Emery between $3.52-$4.69, the price is a first, second and third-round pick. If the deal is for more, it’s two first rounders, a second and a third. If the contract is for more than $5.9 mil per season, the Kings owe four first round picks (and they need to see a phychiatrist pronto.)

The Florida Panthers have dipped into the free agent market, signing winger Richard Zednik to a two-year deal ($1.5 million and $1.75 million), and forward Brett McLean to three-year deal worth $1.7 million per year.

It’s obvious the reason why it’s so quiet in the opening hour and change thus far is, as the TSN crew pointed out, the top UFAs are getting lots of offers and they’re taking their time sorting through them.

Once the main guys make up their minds (and I expect that to start happening by 2 PM ET), the logjam will be broken and the signings will come fast and furious, because the ultimate destination of the main guys will have those teams that lost out in the bidding for them turning to their “Plan B” players.

Just my two cents while we wait. This is as bad as my military days…“hurry up and wait”.

The first hour of unrestricted free agency in the NHL didn’t bring any blockbuster deals, but The Hockey News reports the Calgary Flames are on the verge of giving captain Jarome Iginla a long-term contract extension.
Multiple sources have confirmed that later Sunday or Monday, the Flames will announce they have reached an agreement with Iginla on either a four-or five-year contract extension. Depending on the length of the deal, it would keep Iginla in Calgary through the 2011-12 season or the 2012-13 season.

St. Louis Blues President John Davidson announced today the club has re-signed defenseman Barret Jackman to a one-year contract.
“Barret has been solid on the blueline for the Blues since breaking in with the club in his first full season in 2002-03,” said Davidson. “He’s an excellent assistant captain and we look for him to play a vital role in helping lead our team next season.”

TSN’s Jay Onrait is doing the liveblog thing again today, if you’re interested…

12:46 - A reader named Jeff Lush asks: “Does the TSN Brass realize the risk of having these free agent/trade deadline shows? What happens if nobody signs today?” I’m sure they’re not that concerned. What else were you planning on watching today, the U.S. Women’s Open? Boo-yah! Take that Lorena Ochoa!